Tethys Petroleum raises US$1.4mln from two investors

Tethys Petroleum Limited (LON:TPL, TSX:TPL) has confirmed that it has raised US$1.4mln through an issue of shares to investors.

In a stock market statement Tethys said it has now completed the placing, agreed earlier this month, with share being issued to Winston Sanjeev Kumar Soosaipillai and Medgat Kumar, who own State Oil Group.

Each investor is taking a 9% stake in the company.

“The placements bring much needed funding to the company as well as provide it with strong in-country partners in Kazakhstan and internationally,” Tethys said.